ANNUAL REPORT 2016
CONSOLIDATED NET PROFIT
Consolidated profit before taxes stood at 29.3 million euros, up 15.3 million
euros that is an increase of 109%.
Income tax
The current tax in 2016 is 5.6 million euros, versus 3.7 million euros in 2015.
This accompanied the evolution of results and the use of available tax losses.
When calculating tax the deduction of the extraordinary tax credit for invest-
ment (Law 49/2013) was not posted, because the application criteria for this
financial year are still being evaluated.
Due to the effect of deferred taxes, the total tax amount used to ascertain the
Net Profit was 5.9 million euros, corresponding to a rate of 20%.
Consolidated profit of the financial year
Net consolidated profit of the financial year was 23.4 million euros, up 118%
over the figure of 10.7 million euros recorded in 2015.
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